As of February 2025, Wolfspeed is nearing the completion of its Siler City manufacturing facility. The company remains on track to begin production by early 2025, aligning with its goal to meet the growing demand for silicon carbide semiconductors.
In September 2022, Wolfspeed, a leader in silicon carbide technology, announced plans to establish the John Palmour Manufacturing Center for Silicon Carbide in Siler City, North Carolina. This $5 billion investment aims to produce 200mm silicon carbide wafers, enhancing the efficiency of semiconductors used in electric vehicles and renewable energy applications. The facility is expected to create approximately 1,800 jobs by 2030, significantly contributing to the local economy.
In October 2024, the U.S. Department of Commerce announced plans to provide up to $750 million in direct funding to Wolfspeed. This investment supports the Siler City facility and an expansion of the company’s existing plant in Marcy, New York. These projects are estimated to create 2,000 manufacturing jobs as part of a more than $6 billion expansion plan.
The establishment of Wolfspeed’s facility is anticipated to stimulate residential and commercial growth in Siler City and its environs. Recognizing the potential influx of workers, Chatham County has been proactive in creating affordable housing opportunities to accommodate the expected population increase. Efforts are underway to ensure that individuals can live and work within the same community, promoting a balanced work-life environment.
As of July 1, 2023, Siler City had an estimated population of 8,043. Projections for 2025 suggest a slight decrease to approximately 7,975 residents. However, with the influx of jobs and economic activity from Wolfspeed’s facility, these projections may shift, potentially leading to population growth and increased demand for housing.
References
- Chatham County Economic Development Corporation. “Wolfspeed – Siler City.” chathamedc.org
- Axios. “Wolfspeed nears completion of its $5B Chatham County factory.” axios.com
- AP News. “Biden admin to provide $750 million to North Carolina-based Wolfspeed for advanced computer chips.” apnews.com
- U.S. Census Bureau. “QuickFacts: Siler City town, North Carolina.” census.gov
- North Carolina Demographics. “Siler City Demographics | Current North Carolina Census Data.”
Doug Kline, PhD, has held income properties in North Carolina for more than 20 years. He holds a North Carolina broker’s license, and is a member of the National Association of Realtors and the Triangle Real Estate Investors Association. A lifelong learner, he holds an MBA and a PhD in business, and continues his education by attending meetings of the Society of Exchange Counselors and the National Counsel of Exchangors. In addition to his extensive real estate activities, Doug enjoyed a successful career in academia, achieving the rank of Full Professor in the Cameron School of Business at UNC Wilmington. He was honored with research and teaching awards, served as Director of the MS Computer Science and Information Systems program, and was awarded the endowed position Distinguished Professor of Information Systems.